A nation is built to a large extent in its educational institutions – in its classrooms, laboratories, libraries and playing fields. Educational institutes not only produce highly skilled and enlightened manpower needed for the political, economic and social transformation and development of our country but also shoulder the responsibility of lending dynamism, resourcefulness and intellectuality to it. The teacher is the backbone of the educational system, the maker of mankind and the architect of society. A nation grows with the teachers and with the education imparted to the people. It is in this respect that the role of the teachers acquires significance in shaping society and in bringing revolutionary changes in the development of the country. The retention of this community in educational system especially individual institutes is necessary for the effective and proper use of the resources for rendering maximum service to society through building up the future human-resource pool of the nation.

A number of findings and observations especially regarding management institutes are pointers to the fact that the education cosmos is sitting on a veritable landmine – that of talent crisis. Institutes at large are facing an acute dearth of academic talent; this is a malaise, which can snowball into a pandemic if remedial action is not taken instantly. Institutes are now taking the bull by the horns. The realization of the gravity of the situation is gradually dawning upon them. Slowly but steadily enough, they have started addressing this issue. They are acknowledging academic talent shortage as a burgeoning problem and are placing the academic talent development task high on their list of priorities. Primary Education

United States market also recurred a shortage of teachers and that too in twentieth century and as there was the decrease in the number of admissions during early eighties and late seventies. There has been a shortage in humanities department in various management institutes in most of the pronounced areas and in growing areas like south and west of the country.

Glenn A. Daley (2006) stated that recruitment and retention of teachers is the important factor where there is a need to create a pipeline and also to develop a concept of succession planning as it becomes necessary if any faculty member leaves the institute in the mid-session. In most of the institutes the new teachers cannot keep up with the experienced and highly qualified old faculty members. In

Western countries, where sufficient numbers of teachers are prepared, many newly prepared teachers either choose not to teach at all or leave teaching within a few years. Many of the researchers found that in United States around 60% of students that are interested for teaching actually choose to go into teaching after graduation. Approximately 40% of teachers leave the teaching profession in United States within the first three years. However, teacher retention rate is not a problem in other countries like France, Germany, Portugal and Hong Kong.

Lucrecia and Glenn A. Daley (2006) found that universities and higher education institutions are at the crossroads in terms of their future development. Moving ostensibly from institutions that enjoyed heavy government subsidy, outdated and protected work practices that functioned on the quaint concept of collegiality, they have suddenly found that the structures and processes that served them so well in the past are no longer relevant in the new world order of e-commerce, street smart and fickle students who demand high quality and progressive and flexible teaching and learning practices that will provide them with the edge upon graduation. There are attempts to identify the Human Resource initiatives that are required to effect change in a competitive and complex environment. However, before doing this it is necessary to identify the influences that are driving institutions to re-evaluate their HR practices (David Roth and Watson Scott Swail, 200′).

Congruence and commonality of effort are difficult to achieve in a decentralized system of education. Education system requires a proper understanding of how to implement teaching policies if there is a need to hire visiting faculty. If there is not a proper channel of implementing the policies, then there will be teaching policies on temporary basis with conflicts, gaps and inefficiencies that becomes unavoidable.

A coherent framework of policies should be developed as it becomes easier in those countries that follow national system of education because the education policies are controlled by central government.

There are various organisations in New York, working to improve the hiring of teachers and the studied made researcher Levin & Quinn (2003) stated that lengthy process of hiring made most of the candidates to back out from the hiring process. Some of the institutes there in New York received five to seven times more applications than the actual positions to be filled and most of the candidates withdrew from the positions applied for when the hiring process started in late summers.

Now the issue arises as to on what factors does the demand and supply of best quality teachers depend. These factors can be the number of enrolments of candidates, student-teacher ratio and the turnover rate. Though the student-teacher ratio has declined in most of the western countries in several years.

The number of teachers depends on number of students graduating from teacher preparation programmes, the ratio of such students who choose to enter teaching; this includes the number of teachers who are licensed through various other programmes, and the number of members returning from the reserve pool of teachers, including retired teachers. Some more factors influencing the supply of teachers are compensations and benefits, difficulty of licensure standards, working conditions, presence or absence of incentives to attract teachers, and public perception of teaching as a profession.

The purpose of this study was to review the talent management process nurtured by the private institutes as well as to identify the factors that most significantly influenced faculty’s decisions to remain employed at the institutes. Besides, this study has also developed a conceptual framework of talented employee retention and tested the framework of employee retention in the context of a private college in Delhi/NCR. Moreover, the study sought to describe the importance of retaining core employees and developing strategies to enhance human capital retention practices. Result from this study will assist in the development of an effective talent management and HR retention program for organizations.